Spatial Spillover Effect of Financial Flexibility on Investment in China’s Convention and Exhibition Listed Companies
Joint Authors
Liu, Xiaoqun
Yu, Liuchun
Zhang, Yuchen
Chao, Youcong
Source
Mathematical Problems in Engineering
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-10-19
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
Financial flexibility is an important research issue in corporate finance.
This paper utilizes the Spatial Durbin Model (SDM) to analyze the impact of financial flexibility on the investment of Convention and Exhibition companies listed on the New Third Board from 2014 to 2016.
The empirical results show the following.
Firstly, the greater the financial flexibility, the more investment the firm will make.
Secondly, the enhancement in financial flexibility would lead to an increase in investment of companies in the Convention and Exhibition industry in the local provinces, indicating that the financial flexibility has a significant positive intraregional spatial spillover effect on investment.
On the other hand, financial flexibility has spatial spillover effects, and its rise will reduce the investment in other provinces, which could be explained by the competition effect between enterprises.
Overall, we have further elucidated the role of different levels of financial flexibility on the investment of the Convention and Exhibition listed enterprises from the spatial dimension, thereby enriching the existing research on corporate financial flexibility and corporate value to some certain extent.
American Psychological Association (APA)
Liu, Xiaoqun& Yu, Liuchun& Zhang, Yuchen& Chao, Youcong. 2020. Spatial Spillover Effect of Financial Flexibility on Investment in China’s Convention and Exhibition Listed Companies. Mathematical Problems in Engineering،Vol. 2020, no. 2020, pp.1-10.
https://search.emarefa.net/detail/BIM-1194743
Modern Language Association (MLA)
Liu, Xiaoqun…[et al.]. Spatial Spillover Effect of Financial Flexibility on Investment in China’s Convention and Exhibition Listed Companies. Mathematical Problems in Engineering No. 2020 (2020), pp.1-10.
https://search.emarefa.net/detail/BIM-1194743
American Medical Association (AMA)
Liu, Xiaoqun& Yu, Liuchun& Zhang, Yuchen& Chao, Youcong. Spatial Spillover Effect of Financial Flexibility on Investment in China’s Convention and Exhibition Listed Companies. Mathematical Problems in Engineering. 2020. Vol. 2020, no. 2020, pp.1-10.
https://search.emarefa.net/detail/BIM-1194743
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1194743